Plan afoot to establish new city in Egypt's Suez governorate

Posted on 11th March 2016

A plan is afoot to establish a new city in Egypt's Suez governorate that will boast of several key facilities including residential units, park, a factory and other amenities.

The governorate will send a general plan to the government and the presidency for the new city to be developed on a vast area in Oyoun Mousa district, east of the SuezCanal zone, reported Daily News Egypt, citing a senior official, according to Tradearabia news report.

The Suez Canal area will be converted into an economic authority and will work as a single-window in completing all investors' procedures, separate from all ruling legislations of economic activity in Egypt, Ahmed Al Hayatmi, the governor of Suez, was quoted as saying.

The project, which targets public and private investments, aims to attract foreign investment, develop industries, and export to gain foreign currency, he added.

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